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New State Board of Accountancy CPE regulations for CPAs

Programs which qualify

A. The overriding consideration in determining whether a specific program qualifies is that it shall be a formal program of learning which contributes directly to the professional competence of an individual after this individual has been licensed to practice certified public accountancy.

B. Group continuing education programs

Group continuing education programs will qualify only if §A of this regulation is met and:

An outline is prepared in advance and preserved for review by this Board, if required;
The program is at least 1 hour (50-minute periods) in length;
The program is conducted by a qualified instructor;
A record of attendance is preserved;
The sponsor agrees to admit a member of the Board or of the CPE Advisory Committee on request to monitor the program.

These programs would include:

Professional development programs of recognized national and state accounting organizations and their chapters;
Technical sessions at meetings of recognized national and state accounting organizations and their chapters;
Non-credit short courses at universities and colleges;
Formal, organized in-firm education programs;
Programs offered by other recognized professional or industrial organizations.

C. University and college courses taken for academic credit will qualify only if §A of this regulation is met. Credit towards the continuing education requirement will be calculated at 15 hours for each semester hour credit and 10 hours for each quarter hour credit.

D. Other programs. A program other than a group program will qualify only if:

The program meets the requirements of §A of this regulation;
An outline is prepared in advance and preserved for review by the Board, if required;
The program is at least 1 hour in length (50-minute period); and
The program provides evidence of satisfactory completion.

E. Peer reviews

A peer review shall qualify if conducted in accordance with Business Occupations and Professions Article, Title 2, Subtitle 4A, Annotated Code of Maryland, and COMAR 09.24.06.
Calculation of credit for peer reviews.

Only an individual in a firm that receives an unmodified peer review may receive credit.
The peer reviewer shall allocate the credit hours among the engagement personnel in attendance at the exit conference for the peer review.
The peer reviewer shall allocate a maximum of:

8 hours for a report review;
12 hours for an engagement review; and
16 hours for a system review.

Peer review credit hours may not exceed 16 credit hours per individual for any license period.

§A The overriding consideration in determining whether a specific program qualifies is that it shall be a formal program of learning which contributes directly to the professional competence of an individual after this individual has been licensed to practice certified public accountancy.

A program other than a group program will qualify only if:

The program meets the requirements of §A of this regulation;
An outline is prepared in advance and preserved for review by the Board, if required;
The program is at least 1 hour in length (50-minute period); and
The program provides evidence of satisfactory completion.


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